Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list XAUT (Tether Gold) on May 23, 2024. The details are as follows.
List Time
1. Deposit: 7:00 on May 23 (UTC)
2. Withdrawal: 7:00 on May 23 (UTC)
3. Trading pair: XAUT/USDT
4. Opening method: Call Auction
a. Call Auction
7:00-7:20 May 23 (UTC)
Orders can be placed and canceled
7:20-7:30 May 23 (UTC)
Orders can be placed but cannot be canceled
b. Trading
7:30 May 23 (UTC)
About XAUT
By applying the technology and functionality of Tether’s world-leading fiat-backed stablecoins to physical gold, XAUt will dramatically mobilize gold markets, significantly lowering barriers to entry for non-institutional investors in the process. XAUt will mirror Tether’s existing products in many ways, but there are several important differences, including the creation of a new entity that will issue XAUt tokens, Tether Gold.
Each individual XAUt token represents 1 troy fine ounce of London Good Delivery gold held in a vault in Switzerland, and will be capable of being fractionalized up to six decimal places (i.e. increments as small as 0.000001 troy fine ounce).
Holders of XAUt will be able to redeem their tokens for the associated physical gold, subject to the payment of fees and minimum redemption requirements. The gold will be delivered at a location of the holder’s choosing in Switzerland. Rather than take physical delivery in Switzerland, a holder can ask Tether Gold to make arrangements to attempt to sell the gold and take the proceeds from that sale.
About Automated Market Making (AMM)
AMM is supported for the XAUT/USDT market. CoinEx AMM allows every user to become a market maker. By adding liquidity to the liquidity pool, users can share 50% of the trading fees earned in this market. The fee dividends are calculated daily. Learn about AMM >>
Risk Reminder
Crypto products are innovative investment products with large price fluctuations as well as high investment risks. Therefore, please evaluate and invest wisely based on your risk tolerance and financial resources.
CoinEx reserves the final interpretation of this announcement.
CoinEx Team
May 23, 2024
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